monster commodities bounce

Most battered miners have recovered over 100% from their lows in recent times (and in many cases multiples of this) - seems pretty much across the board. Had OZL achieved refinancing (not been facing administration), I expect we'd be seeing well over $1 at the moment. Now who knows if this rally is going to be short lived, but it is certainly all happening faster than I had expected (zinc up almost 30% in a few weeks). For example I had earmarked KZL to buy this morning, as it had good zinc exposure and hadn't had a run. Up 30% today (I didn't actually buy any, waited too long).

Obviously the Minmetals bid can still be voted down, the question is just how strongly does the market have to recover before the banks will come to the party and refinance the loans? If prices improve a little from here and stabilise, how much sense does it make to let the company go for arguably the rock bottom price that was negotiated. It's somewhat amusing that in less than a week after finalising details of the Minmetals deal, there has been this massive recovery in metals.